1. United States
2. Ohio
3. Letter

I am deeply troubled by the Senate's vote to overturn the Consumer Financial Protection Bureau's rule capping overdraft fees at $5. This common-sense regulation would have provided much-needed relief to struggling American families by saving them an estimated $5 billion annually in excessive overdraft charges. At a time when many households are already grappling with high prices and inflation, allowing banks to continue imposing exorbitant fees far exceeding their actual costs is unacceptable. The Senate's action prioritizes the interests of the banking industry over the well-being of consumers, perpetuating a predatory and exploitative system. I urge you to stand up for working families and support efforts to reinstate reasonable limits on these egregious overdraft fees.